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Cashin In

News/Business. A practical look at money management. (CC)

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00:31:00

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Channel v761

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mpeg2video

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ac3

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1280

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720

TOPIC FREQUENCY

Us 14, Jonathan 11, Eric 8, Wayne 6, Julie 4, Cashin 4, Tracy 4, Garth 3, Obama 2, Bjorn 2, Israel 2, London 2, Benghazi 2, Pakistan 2, America 2, Tracy Burns 1, Eric Bowlen 1, Wayne Rogers 1, Jauohn 1, Bet 1,
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  FOX Business    Cashin In    News/Business. A practical  
   look at money management. (CC)  

    May 12, 2013
    9:30 - 10:01am EDT  

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latin and south america. >> you guys are great. three stocks so great. that's it for "forbes on fox." have a wonderful mother's day weekend. keep it right here. we continue with eric bowlen cashing in. life, liberty and the right to health care? health care should be a constitional right. >> although health care was not listed per se in the constitution, it should be a constitutional right. >> wait a minute, not so fast, "cashin' in" has some ideas for you, representative. plus the battle for answers over benghazi far from over. we're handing over billions to people who fnkly would rather see us dead than alive. maybe it's time to stop them from cashin' in on our hard work. cashin' in, derailing the liberal gravy train, right now. hi, everybody, welcome to
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"cash' in." wayne rogers, jauohn and tracy burns. as the white house scrambles to resell obama care to the public, democrats are pulling out all the stops. >> we have certain inalienable rights of life, liberty and the pursuit of happiness. one might argue that education and health care fall into those provisions of life, liberty and the pursuit of happiness. although health care was not listed per se in the constitution, it should be a constitutional right. >> life, check. liberty, check, pursuit of happiness, check, in the constitution. john, i don't see obama care anywhere in this document. >> it's not, eric. unfortunately the representative and many democrats are ignorant as to just what a right is. a right is aight to action, to pursue your life, liberty and
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happiness. it's not a right to a freebie or a gooder service from someone else. just a notion of a right to health care means that other people are enslaved to provide you with that health care. the result is the destruction of all rights. that's why the founders understood it to be individual rights. it's your life, your liberty and your happiness. that's why health care, education, a haircut or a ee meal is not a right. >> we called the representative and i guess she was unavailable. we couldn't get her on. we tried to get her on the show, she couldn't join us. but her place we have julie who will defend obama care to the end, right? >> well, don't confuse me with sheila jackson-lee. but i will say this. to jonathan's point, we do have mdatory education. you have to send your kids to school. i think education is very important but your health is everything. >> so education is a right. health care is a right. >> i think health care is absolutely a right. >> what about a big house? >> listen, come on, if you don't have your health, the health is
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the most important thing in the world. if you don't have your health, you have nothing. >> if you live in jersey, a nice car is also pretty important. >> look, you're going to let a sick baby die? because he doesn't have health care? i mean we're -- this is inhumane if you're telling me people don't deserve some form of health care. look, i'll be the firsterson to tell you obama care is a piece of crap an is not going to help our health care system. but to tell me that you're going to allo people in our fine country that our forefounders found, allow these people to just -- >> who said that? who said that? >> i'm just saying everybody deserves something, eric. if you live in this fine country, you deserve to be helped if you're sick. >> you tell me one place in this fine country that tracy talks abouthat someone who does not have health care cannot walk into an emergency room somewhere and get health care. >> no! >> let me get wayne. go ahead, wayne. >> i think there's something more fundamental here.
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obviously thomas jefferson and madison and the people who were responsible for the constitution with roll over in their graves if they heard this. these are people who are talking on the floor of the house of representatives and the senate in the united states who have never read their federalist papers. they have never read the background of the constitution. they know nothing about the enlightenment and the philosophy of adam smith and hutchinson and the people who founded those things, because all of these people were living under the divine right of kings. they were afraid of a central government that mandated certain things and called certain tngs entitlements and rights. we have no entitlements and rights. we have individual liberty. that's what it's all about. jonathan is absolutely right. and if these people could read, which they don't, they would understand that. it's as simple as that. >> go ahead, tracy, go ahead. >> there's a very fine line here. look, i don't think obama care is the answer, but i do think that we owe the american people of our fine country something if
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they are ill. you cannot just let people die in the streets. >> you just did it again, tracy. >> no. >> who lets people die in the streets? >> it's the same thing. it is the same thing. >> come on -- wait, wait. >> tracy doesn't understand -- tracy, what you don't understand is thaty establishing health care as a right, you're destroying rights. >> wait a second. >> tell me the difference, jonathan. what's the difference? there's no difference. >> hold on, hold on, go ahead. jonathan. >> tracy, your rights don't cost me anything. your right to life, liberty, happiness doesn't cost the public anything but your right to health care and mri or to julie's point, education or anything else, that is enslavementf the rest of the population >> let me get this straight. you don't think that when you have a kid walk into the emergency room, that we're not all paying for it? $2200 per family is what it is costing us. >> unfortunately we are because you have already monopolized
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health care. >> so what do you do? >> let him answer. >> i think julie and tracy should be responsible because you guys care so much about it. >> because you don't care about kids all. we all know that by now. listen to what you're saying. >> no, if you don't support government monopoly -- >> what monopoly are you talking about. >> hold on, let's stay on topic here. is obama care, is health care, is a service constitutional? >> how can it be a right? >> let me ask wayne. wayne, $150 llion kathleen sebelius says she's going to spend this year teaching people about obama care. our numbers, we heard as high as $600 million or up to $800 million. is this a good idea? >> it's a ridiculous idea, you're absolutely right. and you think about it, there's 2,300 pages of obama care. there are over 20,000 regulations. this is going to be dumped into the hands of regulators and they're going to be financed by
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your tax dollar to carry this out. it's a dumb idea. it's a dumb plan. and in the interest of everybody saying, oh, these people don't have health, they're entitled to healt they're not entitled to health. >> what do you do with them? >> they are ep titled to live in a country that entitles them some freedom. >> i get that ama care is a total mess and will not fix the problem. >> you are supporting it. >> i maam not supporting it. >> if you listen to what i'm saying, i think obama care is not going to work. i'm telling you that i think every single person that lives in this country has the right to some sort of care. you cannot let people die in the streets. we are nauticot calcutta. >> then you're complicit to obama's basic premise. what has made america different is we were the first country that said your life belongs to
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you. you have a right to your own life. by establishing a good or a service as a, quote unquote right, you're enslaving everyone. once again rights have got to get cut off. >> jonathan answer the question. >> button up this segment. >> yes, i hate kids. go ahead. i hate kids. >> if you have a kid and he's got cancer and doesn't have health care, you would have him die in the street with no access to health care? >> guys, stop. we have to go right now. jonathan didn't even allude to that. >> yes, he did. yes, he did. >> everyone has -- anyone can walk into a trauma centeri and get health care. coming up, the benghazi hearings proving our diplomats need more security overseas and now we've got a cashin' in solution thaton't cost an additional dime and is sure to save american lives. >> i think it's the saddest phone call i've ever had in my life. he told me that ambassad stevens had passed away.
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i'm so glad you called. thank you. we're not in london, are we? no. why? appartly my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your accounts for unusual activity, you could also set up free account alerts. okay. [ female announcer ] at wells fargo we're working around the clock to help protect your money and financial information. here's your temporary card. welcome back. how was london? [ female announcer ] when people talk, great things happen.
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how old is the oldest person you've kno? we ge people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed much is the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ his mission. stay with us. this hearing is over but the investigation is definitely not as gop lawmakers still look for answers after the benghazi hearings. some people say we already know how to keep americans safe overseas, stop sending money to countries that hate us and instead spend it on beefing up security at u.s. embassies and consulates. tracy, no-brainer, right? >> no-brainer.
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$1.7 billion to iraq. why don't we try to protect our people a little bit. if you've got money to burn and want to send $500 million to the palestines, they hate us too. i can think of 50,000 things here in the united states that could use that money. >> wayne, not a bad idea. god only knows we need more security at our embassies, right? >> i think that's true, eric, but you know using money to bribe other nations to do something we want is not a bad idea. in other words, investing money -- if you were going to put a spy system in, this idea of standing on principle to say we won't recognize this nation because they're hostile to us, that or the other, when in fact if you could spend money, put an embassy in there and get a spy system in there that benefits us, i'm for spending that money if it's going to benefit us. if it's not going to benefit us, don't do it. >> julie, we spend between $1 and $2 billion to pakistan but pakistan was housing one of the worst criminals in the history of the world, osama bin lade
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wh are we getting for this money? >> i guess we're getting cooperation. you know who would be really bummed about your plan, the israelis. the only way the egyptians are cooperating with the camp david peace accords, because we're funding them or bribing them into sort of good behavior with the border with israel. so i'm with wayne. where we can bribe for lack of a better word people to be on our side, i'm all for it. >> jonathan, we're going to send a billion or so over to egypt, we're sending them f-16s. we're writing checks. we're broke. we're sending money there, yet the leader of egypt is a muslim brotherhood graduate. >> yeah, i mean our foreign policy, eric, is not just bad economics, it's suicidal. the role of government is to protect americans, it's not to promote opportunity or to appease the muslims. that's exactly what we're doing. hundreds of millions of dollars to the muslim brotherhood? it's like we didn't learn our lessons from iran in 1979. why do we even have embassies and consulates in countries that
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are openly antagonistic towards the westernnd american ideals. you know what we should do for our enemies? we should bomb them and eliminate them. then go home. >> we all know how these guys work. wayne is right. this is the way it works in certain countries. they need to be bribed in order for us to gather intel. >> look at good it's working. >> this is endemic of the entire administration that we consistently throw money at stuff and we get no bang for our buck. this happens here at home, this happens overseas. no one is thinking, well, like a business. money is not working in certain countries. >> to your point, tracy, the iraq debacle was not this administration, but i will say this again, yeah, it is working because of the example used earlier. the egyptians would not be cooperating with israel and hamas. they wouldn't be abiding by the camp david peace accords if we didn't invest in them. i'm using inst loosely,
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translation, bribe them. >> wayne, we spend somewhere between -- we put a $21 billion number up there. think it's far north of $21 billion when you think of all the money we spend through the fbi and the cia. wayne, when americans die overseas, should we be cutting back on this aid? >> no, i don't think -- it comes back to what i said before, eric. it's how you spend that money. if it's being used for the interest of the good ole usa, if it's perpetuating our strongest interests, it should be used. i don't care how you do it. you've got to get a spy system into another country to understand what's going on. you do that by -- it's not a moral issue. jonathan wants to make it a moral issue, all these people are bad, don't give them money. it's not a question of a moral issue -- >> they are bad. >> -- it's a question of what's good for us. >> all right, we're going to have to leave it there. we'll leave it there poor jonathan is getting it from all sides. i'm with you, jonathan, i'm with you. coming up, what are
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if you click it, should you be taxed for it? the senate passing a bill paving the way for states to collect sales tax on online purchases. they say brick and mortar stores collect sales tax so why shouldn't online retailers also. jonathan, just another tax. is this fair? >> it's not only unfair, eric, but it's destructive to the
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economy. i mean freedom creates wealth and force, which taxes are, destroys it. this is simply the government taking more of your money. it's more regulatory costs and expenses for retails. it makes trade harder, it makes trade more expensive. how does that help aone except the big spending government. we've only had a sales tax in this country basically since 1930. rather than adding new taxes, why not take them away from the bricks and mortar stores and let the economy thrive and fly. >> i struggle with this one because i do not agree with adding one single additional tax to this economy. >> what about the kids? >> if i'm barnes & noble, brick and mortar, it annoys me that you can go onto the website and get a break. so where is the equality there? look, i worry about this, though, because you get the states collecting sales tax from other states, what else are they going to start collecting. you're opening a whole can of worms with this. >> what about it, wayne? jonathan says eliminate the sales tax for brick and mortar.
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what do you say? >> well, that's fine for jonathan to say that, but why not eliminate the income tax and have a national sales tax. that would be a better idea. so when you're doing -- when you're explaining it, it's much more complicated than this. this has to be a level playing field. you cannot have tax on one and not tax the other. >> there's 9600 different tax jurisdictions in america, 565 indian reservations, almost 10,000 -- over 10,000 different jurisdictions that small businesses probably would fold having to deal with all that bureaucracy. >> well, small businesses are not on the internet, right? they're small mom and pop stores. >> huh? small businesses are t on the internet? >> the road that you drove to get to the studio today, who's paying for that? how are you going to fund basic components of government? roads. the reason i'm staying on this and the reason i made that point is because if you exclude certain people from he sales tax but you include other people
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in it, the only option is to put those other people who are paying it out of business or eliminate the sales tax as jonathan said altogether. in which case i don't know how states will function and provide even basic srves like roads. >> hold on, tracy. here's the way it would work ou the big internet retailers, they're actually okay with it. it's the small ones that aren't. they are the ones that have to deal with it. >> rightfully so. first there's a million dollar cutoff. a million or less you don't have to worry about this. does that event an incentive to grow over a million dollars? we're preventing people from growing. so there's that same notion we see all over again. i do think there's something really wrong with the fact that if i order it, no tax. i go to the store, tax. >> wayne, what about it, aren't we call -- i buy a lot of stuff online. i'm just going to end up paying more for it and the consumers will end up eating this cost anyway. >> that's true, eric. but you can't have a double scale here. you've got to have -- what's
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good for the goose is good for the gander. you can't say, h, we're going to tax these people and not tax thesepeople. you've got to have it one way or the other. it can't be both. >> we're going to leave it there anday thank you very much to julie. coming up, guys, may as well give your tax money to zombies. uncle sam is allowing dead people to cash in on your hard-earned money. [ malannouncer ] you are a business pro. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go.
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time for what i need to know for next week. tracy? >> thanks reporting glitches by the social security administration, it's likely that dead people are getting benefits paid out, eric. just add that to the list of wasted government money. >> yeah, dead people, people in prison are also getting it. >> people that shouldn't be getting it. >> craziness. what do you say? wayne, you're up. >> well, i'm looking at -- i think that some of the best in pharmaceuticals and the health care are good. i want to look long term at pc rx, higher sales, lower earning this last quarter. good in the long term. >> very good. pc rx. jonathan, you've been hot, are you staying hot? >> thanks. i know i sound like the below cries wolf, but now is the time to bet against rates. over half my hedge fund are short in the bond market including shares of tps. there is a leverage fund that bets against tips. tips have been a popular investment in the last couple of years. i think now is the time to phase the crowd.
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>> i have a few seconds, where do you see rates going? >> there's no floors in a bear market for bond. i'll let you know whether we get there. i think they're headed higher. >> quick thought on rates? >> we're here for a while. take advantage while you can. they're not going anywhere. >> we'll leave it there. that's it this week. i want to leave with something -- i put together something for inch in thinking about running again hillary clinton in 2016. joe biden, christie, rand paul, marco rubio. >> it's 3:00 a.m., and your children are safe and asleep. but there's a phone in the white house, and it's ringing. something's happening in the world. your vote will decide who answers that call, whether it's someone who already knows the world's leaders, knows the military, someone tested and ready to lead in a dangerous world. it's 3:00 a.m., and your children are safe and asleep. who do you want answering the phone? >>'m hillary clinton, and i
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